Chinese stocks rise by most in a week as trade war with US fuels stimulus hopes
China keeps its benchmark lending rates unchanged as expected amid the ongoing trade war with the US
Chinese stocks rose by the most in more than a week on Monday amid expectations of stimulus measures from Beijing to offset the impact of the trade war with the US.
The CSI 300 Index, a gauge of the nation’s biggest companies, closed 0.3 per cent higher at 3,784.88, the most since April 11. The Shanghai Composite Index added 0.5 per cent.
Hong Kong’s stock market was closed for the Easter holiday and will reopen on Tuesday.
The gains were led by tech firms and gold miners. Artificial intelligence chip designer Cambricon Technologies jumped 3.8 per cent to 695 yuan, while electric vehicle battery maker Contemporary Amperex Technology rose 2.6 per cent to 231.36 yuan. Shandong Gold Mining surged 8 per cent to 33.80 yuan, peer Shanjin International Gold jumped 7.5 per cent to 22.55 yuan and Zhongjin Gold rose 6.9 per cent to 15.43 yuan.
02:40
Chinese factory aims to double turnover despite Trump’s tariff war by finding new markets
Limiting gains, Chinese baijiu maker Luzhou Laojiao fell 1.7 per cent to 129.60 yuan, while peer Wuliangye Yibin tumbled 1.1 per cent to 130.34 yuan and Shanxi Xinghuacun Fen Wine declined 2.4 per cent to 214.89 yuan.